February 25, 2006	Saturday	Muharram 26, 1427

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Viability of Sindh finances doubtful: World Bank report KARACHI, Feb 24: The World Bank has expressed doubts about the future viability of Sindh’s finances because of mounting deficits in budgets caused by a rise in salaries of the employees...		1.5 million bank accounts closed in FY 2005 KARACHI, Feb 24: More than a million bank accounts were closed down in the last fiscal year ending in June 2005. But let’s have a look first at how much profit people were getting on their bank accounts....
Increased sugar quota fails to end rush: USC mulling ration cards KARACHI, Feb 24: The Utility Stores Corporation (USC) is now providing 550,000-600,000 sugar bags of two-kg per day for sale at its countrywide outlets compared to 200,000 bags two months back....		Pakistan, China to boost trade ISLAMABAD, Feb 24: Pakistan and China will constitute study groups to consider items up to 8 digits HS Code for duty reduction to increase bilateral trade volume....
World oil prices surge above $62 LONDON, Feb 24: Oil prices spiked more than two dollars on Friday to above $62 per barrel as supply concerns engulfed the market....		Pakistan attracting foreign investors ISLAMABAD, Feb 24: Chairman Senate Muhammedmian Soomro has said that Pakistan has great potential of emerging as an economic hub in the region and is presently an attractive destination for the foreign investors....
Support at dips limits losses on stock market KARACHI, Feb 24: Stocks on Friday ran into weekend profit-selling and mostly finished reacted under the lead of overvalued shares, notably on the oil counter but larger decline was resisted owing...		Active buying on cotton market KARACHI, Feb 24: Active trading was witnessed on the cotton market on Friday as price ideas of both ginners and spinners found a meeting ground in line with their parity levels well below the higher ceiling of Rs2,600 per maund....
SSGC net profit down KARACHI, Feb 24: Sui Southern Gas Company (SSGC) maintained a pre-tax profit of Rs801 million during the first half of the fiscal year 2005-06. However, net profit suffered a decline from...		MCB Bank profits shoot up KARACHI, Feb 24: MCB Bank on Friday announced historic profits for the year 2005 and declared 20 per cent bonus shares and 10 per cent cash dividend, in addition to 32.5...
PICIC declares 35pc dividend KARACHI, Feb 24: Pakistan Industrial Credit and Investment Corporation Limited (PICIC) posted an after tax profit of Rs2.227 billion in 2005, up by 36 per cent over last year’s figure of Rs1.636...		Takeovers FRANKFURT, Feb 24: German airline Lufthansa has reiterated it could eventually make more takeovers, having already bought Swiss International Air Lines and other carriers, a newspaper quoted the firm’s chief executive as saying on Friday....
Foreign investment reaches $1.62bn KARACHI, Feb 24: Foreign private investment in Pakistan registered a sharp increase in the past seven months of the current fiscal year. It is mainly dominated by portfolio investment that jumped...		Dollar higher against euro LONDON, Feb 24: The dollar overcame poor US economic data on Friday and edged higher against the euro but the day’s big winner here was the yen, supported by speculation the Bank of Japan might tighten monetary policy....
Karachi Port operations KARACHI, Feb 24: Two ships to load cement and containers are expected to arrive at the outer anchorage on Saturday, according to KPT sources. Berthing activity at the wharves was maintained...		Port Qasim KARACHI, Feb 24: Two ships carrying containers and coke were berthed at QICT and IOCB during the last 24 hours, said a PQA press release on Friday....
Asian stocks close mixed HONG KONG, Feb 24: Asian stocks closed mixed on Friday with investors following domestic leads and taking profits while negative sentiment stemming from Wall Street’s falls also weighed on sentiment....		FPCCI to set up office in Poland KARACHI, Feb 24: The FPCCI’s proposed liaison office in Poland will promote Pakistan’s exports not only to European Union but also to Eastern Europe and Scandinavian countries....